HONG KONG—Hong Kong’s finance minister on Wednesday said the city needs to rein in the recent and aggressive increases in social spending, citing public concerns that the traditionally laissez-faire city was “moving towards welfarism.”
In his annual budget address before legislators, Financial Secretary John Tsang said the city will cut one-off relief measures in this year’s budget to 20 billion Hong Kong dollars (US$2.58…
Visit link: Hong Kong Warns on Social Spending
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